Guarantor is an individual or entity that agrees to be responsible for another`s debt or performance under a contract, if the original party fails to meet their obligations, often needed by startups for leases or loans

Guarantors are common when a business is new and can`t show it can pay back a loan or afford a lease on its own. They help startups get what they need to grow.

What it means to be a guarantor? Being a guarantor means you promise to pay someone`s debt if they can`t. It`s a big responsibility.

What is guarantor of loan responsibility? A guarantor for a loan promises to cover the payments if the original borrower fails to pay.

Can a guarantor terminate a guarantee? Yes, but it`s not simple. Usually, all parties involved must agree to end a guarantor`s responsibility.

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Having a guarantor can help a startup get loans or leases it wouldn`t get on its own. It`s a boost for growth.

Guarantors play a key role in helping startups. They provide a safety net for lenders and landlords.